Tata Chemicals Reports Fall in Profits

6:20 AM MDT | August 5, 2013 | Sotirios Frantzanas

Tata Chemicals (Mumbai) recorded sales up 3.7% in its first-quarter, to Rs30.6 billion, compared with Rs29.5 billion in the prior-year period. Net profits decreased 46% year-over-year, to Rs1.07 billion. Tata's first quarter ended in June 30, 2012. There were a number of challenges during the first quarter of fiscal 2013, including Haldia and Imacid plant closures, which lasted most of the quarter, due to delay in acid contract finalization, the company says. The shutdown of its plant at Babrala, India, for one month due to the annual...